- Lucked out yesterday night, having bought back my entire giant short USD/CAD position at 1.0228, before the Moody's downgrade of Greece (4 notches from A3 to Ba1=junk).
- Starting to re-build shorts now. Just sold at 1.0350.
- Still happy to run long CAD vs basket of Risk Off trades. Currently much skewed naked Risk Off but will be moving to Risk Neutral in terms of VAR/EAR slowly.
- Strong belief (chart reading) here that eventually USD/CAD will see new low below 0.9926. Volatility introduced by overall market Risk appetite changes.
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